Russia’s Rejection of OPEC+ Was the Result of Cold Geostrategic Calculations | WHAT REALLY HAPPENED

Russia’s Rejection of OPEC+ Was the Result of Cold Geostrategic Calculations

The world is still trying to figure out why Russia rejected its OPEC+ partners’ request late last week to further curtail its oil production next month, with this surprise decision prompting the Saudis to wage their oil price war that’s since crashed the price of this indispensable resource and caused panic across the global economy. The prevailing theory is that Moscow sought to simultaneously take down its American shale rivals while chipping away at some of Riyadh’s gradually declining market share, timing its move to coincide with the US’ campaign season and Saudi Arabia’s continued political uncertainty for maximum effect. That explanation is indeed plausible but focuses almost entirely on Russia’s economic motivations, leaving out what the author believes are the crucial geostrategic ones that actually played a much larger role in this decision than most observers have yet to realize.

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